Stocks On The Move: UPS, U.S. Steel...
Following are the day’s biggest winners and losers. Find out why shares of UPS (UPS) and U.S. Steel (X) popped while The Gap (GPS) and Ruby Tuesdays (RT) dropped.
POPS (stocks that jumped higher)
UPS (UPS) popped 4%. Shares jumped on Bear Stearns upgrade, despite economic growth concerns. – I like UPS says Guy Adami.
U.S. Steel (X) popped 8%. KeyBanc Capital Markets upgraded symbol (X) to "aggressive buy" from "buy," citing futures sales increases and declines in foreign exports. – I think pricing power is back in steel, says Guy Adami. I like letter X.
Gymboree (GYMB) popped 9%. The kids' retailer increased its 4th quarter profit outlook, and said same store sales would be higher than previously forecast. – Impressive, says Karen Finerman.
Acuity Brands (AYI) popped 5%. Shares of the lighting equipment maker went brighter Thursday for no apparent reason. – I like this stock, says Guy Adami.
Garmin (GRMN) popped 3%. BMW announced, Thursday, it would equip its 1 and 3 series with Garmin's Nuvi 360 GPS navigation devices.
Imclone (IMCL) popped 7%. The biotech moved north on no clear new news catalyst.
DROPS (stocks that slid lower)
The Gap (GPS) dropped 7%. The nation's largest specialty retailer said December same store sales were off a whopping 6%. – Danger, danger says Jeff Macke.
Ruby Tuesdays (RT) dropped 14%. The casual dining chain posted a quarterly loss, slashed its '08 forecast, and warned it could default on some debt. – You don’t want to be in companies with debt in this environment, says Karen Finerman.
Harris Corp. (HRS) dropped 11%. JP Morgan downgraded the military communications equipment maker to “underweight” from “neutral”. – Stay away, counsels Pete Najarian.
Barnes & Noble (BKS) dropped 19%. The world's biggest bookseller said December comps were down 0.4% on very soft sales of CDs. – The stock is starting to look cheap to me, says Jeff Macke.
U.S. Government. The Federal Government received nearly half-a-million claims from Katrina victims seeking damages. But by far the largest claim on file so far is for the amount of 3 QUADRILLION dollars. That's $3,014,170,389,176,410 to be exact. Another 247 claimants have asked for more than a billion dollars in damages, each.
WD-40 Company (WDFC) dropped 13%. The maker of Carpet Fresh, 2000 Flushes, and its namesake WD-40 missed quarterly profit estimates. – Sales in North America are killing them, says Pete Najarian.
Men's Wearhouse (MW) dropped 30%. The men's formalwear retailer suffered its worst drop ever, after slashing its profit forecasts for the fourth quarter and the full year.
Bullies. The Boy Scouts of America Handbook now includes a new section on how to confront bullies. One example: Called a crater face? The 2008 Boy Scout Handbook recommends this comeback: "So what if I have a face full of zits. What's it to you?"
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Trader disclosure: On Jan 10, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO); Najarian Owns (AMR), (BIIB), (C), (MSFT), (EBAY); Najarian Owns (CFC) Options, (WM) Options,(YHOO) Options; Finerman's Firm Owns (KSS), (WMT), (YHOO), (AEO); Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Owns (MSFT) Options; Finerman's Firm Is Short (IJR), (IYR), (SPG); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns Russell 2000 Puts And Is Short (IWM); Finerman's Firm Owns S&P 500 Puts And Is Short (SPY)